EasyGroup Holdings Ltd. (easyJet) (London-Luton) founder Stelios Haji-Ioannou said yesterday (May 14) he is stepping down from his position as non-executive director of easyJet so he can focus on his fight to stop what he sees as the company’s “strategy of relentless growth” at the expense of shareholders according to the Wall Street Journal.

Stelios’ move is just the latest step in the founder’s attempts to rein in what he sees as the company’s misguided expenditure at the company–most recently, he attacked plans to increase the low-cost airline’s fleet beyond its current 190 aircraft.

Read the full WSJ report:

http://online.wsj.com/article/BT-CO-20100514-711603.html?mod=WSJ_latestheadlines

On the financial side, easyJet narrowed its net loss for its fiscal year first half ending on March 31 to $87 million, a 31% improvement.

Copyright Photo: Pepscl. Airbus A319-111 G-EZID (msn 2442) “100” taxies at Paris (Orly).